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Supply and Demand Performance Task
Transcript of Supply and Demand Performance Task
The Market Equilibrium for our product is 60.
Situations increasing Demand
If taxes are decreased that would give people more income making the amount of money going towards our product increase.
If the price of Conditioner was to decrease people would then buy more of our product increasing the demand.
If population increases there will be more people buying out product.
Affects of Supply and Demand
If our Demand Increases our Price will also increase as will our Quantity Demanded.
if our Demand Decreases our Price will decrease as will our Quantity Demanded
If Supply Increases Price will decrease and Quantity Supplied will increase
If Supply Decreases Price will increase and Quantity Supplied will decrease.
Shampoo that makes your Hair Grow
Situations increasing supply.
Our technology improved the supply would go up.
Situations decreasing supply.
If people quit their jobs number of sellers will decrease.
Situations decreasing demand.
If price of product is expected to fall people would currently be less likely to purchase our product.
If taxes are raised people will have less income and buy less of out product.
If negative side effects are discovered people will buy less of out product.
We are in a Monopoly.